newbie here,
I have read a report that suggests that there will be new mine going in the Alpha area, anyone know about this location ?
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Hi ft,
Alpha is a small town of about 500 people and around 250 houses.
The highway cuts through town North to South, The East side is what floods the worst whilst the west slopes uphill.
The caravan park has a few cabins which are about $100 per night and the pub/motel has rooms for about $130 per night and that's about it for accommodation.
The Waratah and Hancock/GVK mines proposed are about 40 min north and Bandanna's proposed is about 15 west, as previously noted, Emerald is an hour and a half East. ( that's were you go for your groceries ).
The water and electricity have been designed :
http://www.sunwater.com.au/future-developments/connors-river/overview
http://www.powerlink.com.au/Projects/Central/Galilee_Basin_Transmission_Project.aspx
The enviro approvals are at differing stages for the 3 companies with GVK/Hancock the most advanced, expected mid year 2012:
http://www.deedi.qld.gov.au/cg/kevins-corner-project.html
http://www.deedi.qld.gov.au/cg/galilee-coal-project-northern-export-facility.html
http://www.deedi.qld.gov.au/cg/south-galilee-coal-mine.html
There are 4 companies proposing rail lines from there to Abbot point ( GVK/Hancock, Waratah, Adani and QR National ) and the Barcaldine regional council are investing 100 million to upgrade the Alpha aerodrome to accommodate the fly in / out planes.
GVK/Hancock have almost completed the equity raising for the 10 billion required to construct the mine rail and port facilities :
http://businesstoday.intoday.in/story/gvk-may-sell-part-of-stake-in-australia-hancock-coal-mines/1/24103.html
Lots of time and money have been invested due to the huge coal reserves in the Galilee but the approvals to proceed have not been given yet.
Please carry out your own investigations and DD before making any investment decisions, I hope this has helped to give you a bit of info on Alpha.
